Pitcairn Co. reduced its stake in shares of Church & Dwight Co., Inc. (NYSE:CHD) by 13.6% during the 2nd quarter, Holdings Channel.com reports. The firm owned 3,735 shares of the company’s stock after selling 590 shares during the quarter. Pitcairn Co.’s holdings in Church & Dwight were worth $289,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Meeder Asset Management Inc. grew its position in Church & Dwight by 59.2% during the 1st quarter. Meeder Asset Management Inc. now owns 414 shares of the company’s stock worth $27,000 after purchasing an additional 154 shares during the period. Valeo Financial Advisors LLC grew its position in Church & Dwight by 1,019.0% during the 1st quarter. Valeo Financial Advisors LLC now owns 470 shares of the company’s stock worth $32,000 after purchasing an additional 428 shares during the period. Princeton Global Asset Management LLC acquired a new stake in Church & Dwight during the 1st quarter worth about $37,000. Prestige Wealth Management Group LLC grew its position in Church & Dwight by 49.9% during the 1st quarter. Prestige Wealth Management Group LLC now owns 601 shares of the company’s stock worth $39,000 after purchasing an additional 200 shares during the period. Finally, Elmwood Wealth Management Inc. acquired a new stake in shares of Church & Dwight during the 1st quarter valued at about $35,000. 81.40% of the stock is currently owned by institutional investors.
A number of equities research analysts have recently commented on the company. Credit Suisse Group upgraded Church & Dwight from a “neutral” rating to an “outperform” rating and raised their target price for the company from $74.00 to $85.00 in a research report on Thursday, June 18th. SunTrust Banks raised their target price on Church & Dwight from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Oppenheimer raised their target price on Church & Dwight from $88.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. JPMorgan Chase & Co. raised their target price on Church & Dwight from $68.00 to $74.00 and gave the company an “underweight” rating in a research report on Thursday, July 16th. Finally, Zacks Investment Research upgraded Church & Dwight from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a research report on Monday, April 13th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $78.71.
Church & Dwight (NYSE:CHD) last released its quarterly earnings results on Friday, July 31st. The company reported $0.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.14. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.15 billion. Church & Dwight had a net margin of 14.96% and a return on equity of 24.62%. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.57 EPS. Equities research analysts predict that Church & Dwight Co., Inc. will post 2.79 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend is Thursday, August 13th. Church & Dwight’s payout ratio is 38.87%.
In other Church & Dwight news, EVP Steven P. Cugine sold 20,800 shares of the business’s stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $82.89, for a total value of $1,724,112.00. Following the sale, the executive vice president now owns 45,262 shares of the company’s stock, valued at $3,751,767.18. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ravichandra Krishnamu Saligram sold 16,000 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $71.60, for a total value of $1,145,600.00. Following the completion of the sale, the director now directly owns 61,154 shares in the company, valued at approximately $4,378,626.40. The disclosure for this sale can be found here. In the last three months, insiders sold 265,225 shares of company stock worth $19,915,197. 2.00% of the stock is owned by corporate insiders.
About Church & Dwight
Church & Dwight Co, Inc engages in the development, manufacture, and market of household, personal care, and specialty products. It operates through the following segments: Consumer Domestic, Consumer International, and Specialty Products. The Consumer Domestic segment offers household products, such as laundry detergents, fabric softener sheets, cat litter, and household cleaning products; and personal care products including antiperspirants, oral care products, depilatories, reproductive health products, oral analgesics, nasal saline moisturizers, and dietary supplements.
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